Solved

We Are Interested in Comparing the Average Supermarket Prices of Two

Question 49

Multiple Choice

We are interested in comparing the average supermarket prices of two leading colas in the Tampa area. Oursample was taken by randomly going to each of eight supermarkets and recording the price of a six -pack ofcola of each brand. The data are shown in the following table. Find a 98% confidence interval for the differencein mean price of brand 1 and brand 2. Assume that the paired data came from a population that is normallydistributed.  Supermarket  Brand 1  Brand 2  Difference 1$2.25$2.30$0.0522.472.450.0232.382.440.0642.272.290.0252.152.250.1062.252.250.0072.362.420.0682.372.400.03x1=2.3125x2=2.3500d=0.0375 s1=0.1007 s2=0.0859 sd=0.0381\begin{array} { c | c c | c } \text { Supermarket } & \text { Brand 1 } & \text { Brand 2 } & \text { Difference } \\\hline 1 & \$ 2.25 & \$ 2.30 & \$ - 0.05 \\2 & 2.47 & 2.45 & 0.02 \\3 & 2.38 & 2.44 & - 0.06 \\4 & 2.27 & 2.29 & - 0.02 \\5 & 2.15 & 2.25 & - 0.10 \\6 & 2.25 & 2.25 & 0.00 \\7 & 2.36 & 2.42 & - 0.06 \\8 & 2.37 & 2.40 & - 0.03 \\\hline & \mathrm { x } _ { 1 } = 2.3125 & \mathrm { x } _ { 2 } = 2.3500 & \overline { \mathrm { d } } = - 0.0375 \\& \mathrm {~s} _ { 1 } = 0.1007 & \mathrm {~s} _ { 2 } = 0.0859 & \mathrm {~s} _ { \mathrm { d } } = 0.0381\end{array}


A) (-0.0779, 0.0029)
B) (-0.1768, 0.1018)
C) (-0.0846, 0.0096)
D) (-0.0722, -0.0028)

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents